COVID-19 Outbreak – Impact Assessment on Tourism Industry

Industry Overview

Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus. The diseases The COVID-19 outbreak has the most impact on the tourism industry. Amid lockdown across the globe, the sector has been the hardest hit by the outbreak. Since January 2020, almost every destination has put travel restrictions. And it is anticipated that the industry will be hit harder than the financial meltdown of 2008-2009 or any other event in recent history.

Decline in international tourist arrivals, globally

It is estimated that international tourist arrivals will decline by 30% in 2020. Europe which represents 50% of global tourism is among the worst hit across the globe. A decline of around ~400 million tourist arrivals is anticipated across the globe. The tourism industry has sustained over 5% growth post financial meltdown of 2008 and 2009.

Potential Impact

Globally, tourism sector accounts for approximately ~10% of the global GDP. According to the UNWTO, decline in tourist arrivals will result in a loss of 300 to 450 US$ billion in international tourism receipts (exports) – almost one-third of the USD 1.5 trillion generated globally. With this level of impact, tourism industry will lead to large number of job losses across the globe. It is anticipated the outbreak may lead to more than 50 million job losses. Post COID break down it is anticipated that it will take atleast a year for the industry to recover.

Geography Analysis

According to the Select USA, the U.S. travel and tourism industry generated over USD 1.6 trillion in economic output in 2017, supporting 7.8 million U.S. jobs. Travel and tourism exports accounted for 11% of all U.S. exports and nearly a third (32%) of all U.S. services exports. The sector represents ~ 2.5% of the country’s GDP. Immediate measures for short term, medium term and long term are required to support the industry and its stakeholders.

Key Takeaways

• - The report offers an overall impact assessment
• - Industry response to the outbreak
• - Complete overview of tourism industry
• - Country wise analysis
• - Government response and aids across the globe
• - Potential impact and recommendations

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Research Methodology
                1.5.1.    Data Sources
                        1.5.1.1.    Primary Research
                        1.5.1.2.    Secondary Research
                1.5.2.    Methodology
                        1.5.2.1.    Data Exploration
                        1.5.2.2.    Forecast Parameters
                        1.5.2.3.    Data Validation
                        1.5.2.4.    Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Growth Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities

        3.2.    Industry Ecosystem

                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Value Chain Analysis

4.    Industry Size 

        4.1.    Global Tourism Industry Market Overview
        4.2.    Global Tourism Industry Market Size 2015 - 2025

5.    COVID-19 Impact on Industry Size 

        5.1.    COVID-19 Impact on Global Tourism Industry Market Size 2019 – 2025
        5.2.    COVID-19 Impact on Tourism Industry Jobs

6.    COVID-19 Impact on Tourism Sectors

        6.1.    Accommodation Sector
        6.2.    Attraction Sector
        6.3.    Food and Beverage Sector
        6.4.    Tourism Services Sector
        6.5.    Events and Conference Sector
        6.6.    Travel Trade Sector
        6.7.    Transportation Sector
                6.7.1.    Aviation
                6.7.2.    Rail and Other Ground Transport
                6.7.3.    Marine
        6.8.    Adventure Tourism and Recreation Sector

7.    COVID-19 Impact on Tourism Sector by Country

        7.1.    U.S. Tourism Industry and Its Sectors
        7.2.    Germany Tourism Industry and Its Sectors
        7.3.    Italy Tourism Industry and Its Sectors
        7.4.    Spain Tourism Industry and Its Sectors
        7.5.    France Tourism Industry and Its Sectors
        7.6.    U.K. Tourism Industry and Its Sectors
        7.7.    Turkey Tourism Industry and Its Sectors
        7.8.    Iran Tourism Industry and Its Sectors
        7.9.    China Tourism Industry and Its Sectors
        7.10.    Russia Tourism Industry and Its Sectors
        7.11.    Brazil Tourism Industry and Its Sectors
        7.12.    Belgium Tourism Industry and Its Sectors
        7.13.    Canada Tourism Industry and Its Sectors
        7.14.    Netherlands Tourism Industry and Its Sectors
        7.15.    Switzerland Tourism Industry and Its Sectors
        7.16.    India Tourism Industry and Its Sectors
        7.17.    Other Countries Tourism Industry and Its Sectors

8.    Industry Response to the COVID-19 by Country

        8.1.    By Country
        8.2.    By Sector

9.    Government Response to the COVID-19 

        9.1.    By Country
        9.2.    By Sector

10.    COVID-19 Impact throughout the Tourism Industry Value Chain

11.    COVID-19 Benchmark to Previous Pandemic and Financial Crisis

        11.1.    COVID-19 Benchmark to SARS
                11.1.1.    Government and Industry Response to SARS by Country
                11.1.2.    SARS impact on Tourism Industry by Sector
                11.1.3.    Recovery Post SARS
        11.2.    COVID-19 Benchmark to MERS
                11.2.1.    Government and Industry Response to MERS by Country
                11.2.2.    MERS impact on Tourism Industry by Sector
                11.2.3.    Recovery Post MERS
        11.3.    COVID-19 Benchmark to Financial Meltdown of 2008-2009
                11.3.1.    Government and Industry Response to Financial Meltdown of 2008 -2009 by Country
                11.3.2.    Financial Meltdown of 2008- 2009 impact on Tourism Industry by Sector
                11.3.3.    Recovery Post 2008 – 2009 Meltdown

12.    COVID-19 Impact on Stakeholders

        12.1.    Industry Players
        12.2.    Governments
        12.3.    Community Business
        12.4.    Tourists

13.    Conclusion

14.    Recommendations